Once Gold Breaks Below $1,158 Then What?

May 28, 2015 12:06 AM ETPHYS, GLD, OUNZ, PHYS:CA82 Comments
Doug Eberhardt profile picture
Doug Eberhardt


  • Why gold will break below $1,158, the November 2014 low.
  • Where gold will go after it breaks $1,158.
  • Do physical holders of gold care if gold falls from here?

When I wrote my last article, Don't Buy Gold Now, Wait Until It's Under $1,000, it naturally received the type of attention I expected. I didn't have an obvious agenda to sell gold to those who read the article, so one can't accuse me of having a bias because I do sell gold for a living. So why would I write such an article?

This article will go into more detail on what I see coming for gold and help investors see what I see.

When I wrote that last article for Seeking Alpha, the price of gold opened the next trading session at $1,211 and spent the entire month of April below that figure. It took until the middle of April for gold to muster a run to $1,225 and today we are sitting at $1,186, just $28 from the looming November 5, 2015 low of $1,158.

I could write an article every day on gold like Kitco and other sites do, but you'll see that in the 6 years I have been writing for Seeking Alpha, I have only written 50 articles with this being my 51st. It is only traders who are concerned with the day to day moves of gold, but it is long term investors who would like to know when they should begin or add to their allocation to gold.

I do write my Current Thoughts 5 days a week for traders and investors. I take the data that I see, analyze it for what it is, and provide my take on how it may affect gold. In doing this analysis daily and having been in the financial services industry for 29 years now, it has helped me see all sides of the markets, the media interpretation/bias and ultimately I hope; the truth that is the market. If I can share what

This article was written by

Doug Eberhardt profile picture
Sign up for the announcement of my upcoming book, "How To Profit In Up and Down Markets" by going to https://profitinupanddownmarkets.com/ Author of Buy Gold and Silver Safely and Illusions of Wealth. ETF Trading Service where we trade triple leveraged ETFs and seller of physical gold and silver precious metals through Buy Gold and Silver Safely

Disclosure: The author is long PHYSICAL GOLD AND SILVER. The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it (other than from Seeking Alpha). The author has no business relationship with any company whose stock is mentioned in this article.

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